Legislation Insurance Law 1979 amendments Supervisory Jurisdiction Financial Services Supervision Department Application to Superintendent of Insurance Data includes Business Plan (3 years), details of insurance manager, auditor, shareholders and directors and officers Reporting Requirements Annual audited accounts, Certificate of Compliance Restriction on Business Categorised licences Capitalisation Property and casualty (min.) US $120,000 Long term (life) (min.) US $240,000 General/both (min.) US $360,000 Minimum Solvency Net worth must be maintained above initial capital requirements. Generally maximum 5:1 ratio premium to capital by convention Fees Incorporation US $700 Annual US $6,200 Plus management, legal and audit Currency CI $ = US $1.20 Taxation Nil Location Caribbean - 500 miles south of Miami
For further information contact Jenny Hill tel: +44 (0) 171 488 8866, fax: +44 (0) 171 488 8968 or visit the Willis Corroon web site, at Click Contact Link , or enter a text search 'Willis Corroon' and 'Business Monitor'.